Pennsylvania Gaming Control Board
Wynn Resorts has withdrawn its licensing application for a second casino in Philadelphia.
The report shows that the “Provence” and “Market 8″ projects proposed for center city and the “Wynn Philadelphia,” proposed for Fishtown, are generally among the top three in several of the categories in the economic impact study.
Pennsylvania casinos reported Wednesday that table games saw a drop of about 3.6 percent in September compared to a year ago, adding to the woes of casino owners after slot machine revenues also saw a decline.
The principals of PHL Local Gaming say they have a head start on their five competitors because CEO and chairman Joe Procacci would use one of his warehouses to house the casino.
That good news must be taken with a grain of salt, however, because table game revenues in April were less than a third of the overall take from slots, which are taxed at a much higher rate.
Gambling regulators say gross revenue from table games at Pennsylvania’s 11 casinos was up 8.9 percent last month when compared to April 2012.
Sugarhouse casino officials say construction should take about two years now that the Pennsylvania Gaming Control Board has approved a revised plan to expand their waterfront casino.
Not only were slots revenues down more than four percent in April compared to the same month a year ago, but it is also the first time that all 11 of Pennsylvania’s casinos were operating for a full month each year for comparison purposes.
Deputy Mayor Alan Greenberger told the panel at some point the city will make a recommendation, but for now, they’re still evaluating each of the proposals.
“Only the green roof parking garage saves it from an F” in their report card on the applications, the group’s spokeswoman said.
A Philadelphia official has told the state gaming board that the city is still evaluating the six proposals for a second casino in Philadelphia and hasn’t decided yet which one it likes best.
The six applicants who are in a spirited competition for a second casino license to be issued in Philadelphia all made their presentations during an all-day hearing on Tuesday before the Pennsylvania Gaming Control Board.
Pennsylvania’s casinos beat out Atlantic City’s gambling palaces for overall gaming revenue in 2012.
State gambling regulators say gross revenue from slot machines was up 2.7 percent last year.
The Pennsylvania Gaming Control Board has scheduled three days of events: an information-only presentation in February to be followed by two days of public hearings in April.